CLIFTON BRIDGE LOAN
A FURTHER STAGE. J Another stage has [icon reached in j connection with the application by the ■ Clifton County Council for a bridge loan I of :e.'S!)!),j for the urgent renewal of j bridges throughout the.county. After i being provisionally approved some .months ago, the Council were, informed that the financial position of the Department would not permit of the Inanl being granted at present. The last meeting of the Council decided to again approach the Government on the matter. Mr. Vauglian. the clerk, impressing on the Department, the Urgent need Tor repairing the bridges. Mr. Okev, M.I 1 , for' Taranaki,,.was also approached Mr. Jones, a member of the Council,,on the subject, and wrute to the Minister of Finance, urging the needs of the Council with regard to bridge, and suggesting that the Council should lie- granted the loan in instalments of, say, £7i>o to Cl'ooo during his financial year, and flier balance at terms agreed upon between { the Council and the Minister. ,
The Hon. V. Eraser replied' to Sh: Okey on March IS that he was considering the possibility of complying with the request.. The Superintendent of the Advances to Local Bodies Boafd Wrote under date March t4 that he would again submit the application for £1001) additional for the Board's consideration. Under date March 27. he'wrote that the Board had decided' to provisionally , approve ihe application for a loan of .€3905 for renewing bridges, at the rate of 4% per cent., oxelusivp of sinking fund. The half-yearly instalment in payment of interest and principal would be :C2 Dls :!,1 per €IOO. "That is all right as far as it goes.'' remarked the chairman. ''Apparently they have increased the. interest since the first provisional approvement. We should now ask for an advance of about £IOOO to recoup amount already.expended out of bridge loan."
A motion to this effect was carried, and it was decided Unit the matter should be brought before the Prime Minister next day.
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Bibliographic details
Taranaki Daily News, Volume LV, Issue 270, 7 April 1913, Page 2
Word Count
330CLIFTON BRIDGE LOAN Taranaki Daily News, Volume LV, Issue 270, 7 April 1913, Page 2
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